47-7207. Goods must be kept separate;
fungible


A. Unless the warehouse receipt provides otherwise, a warehouse shall keep separate
the goods covered by each receipt so as to permit at all times identification and
delivery of those goods. However, different lots of fungible goods may be commingled.


B. If different lots of fungible goods are commingled, the goods are owned in
common by the persons entitled thereto and the warehouse is severally liable to each
owner for that owner's share. If, because of overissue, a mass of fungible goods is
insufficient to meet all the receipts the warehouse has issued against it, the persons
entitled include all holders to which overissued receipts have been duly negotiated.